diff --git a/CHANGELOG.md b/CHANGELOG.md
index b6b13548..f1cf6eed 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -77,8 +77,6 @@
 
 - [PR 2918]: https://github.com/libp2p/rust-libp2p/pull/2918
 
-- Update to [`libp2p-identify` `v0.39.1`](protocols/identify/CHANGELOG.md#0391).
-
 # 0.48.0
 
 - Update to [`libp2p-core` `v0.36.0`](core/CHANGELOG.md#0360).
diff --git a/Cargo.toml b/Cargo.toml
index 54f40782..417c4b8b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -93,7 +93,7 @@ libp2p-autonat = { version = "0.8.0", path = "protocols/autonat", optional = tru
 libp2p-core = { version = "0.37.0", path = "core" }
 libp2p-dcutr = { version = "0.7.0", path = "protocols/dcutr",  optional = true }
 libp2p-floodsub = { version = "0.40.1", path = "protocols/floodsub", optional = true }
-libp2p-identify = { version = "0.40.1", path = "protocols/identify", optional = true }
+libp2p-identify = { version = "0.40.0", path = "protocols/identify", optional = true }
 libp2p-kad = { version = "0.41.0", path = "protocols/kad", optional = true }
 libp2p-metrics = { version = "0.10.0", path = "misc/metrics", optional = true }
 libp2p-mplex = { version = "0.37.0", path = "muxers/mplex", optional = true }
diff --git a/misc/metrics/CHANGELOG.md b/misc/metrics/CHANGELOG.md
index c38d4958..fdf6806f 100644
--- a/misc/metrics/CHANGELOG.md
+++ b/misc/metrics/CHANGELOG.md
@@ -2,8 +2,6 @@
 
 - Update to `libp2p-kad` `v0.41.0`.
 
-- Update to `libp2p-identify` `v0.39.1`.
-
 - Update to `libp2p-swarm` `v0.40.0`.
 
 - Update to `libp2p-dcutr` `v0.7.0`.
diff --git a/misc/metrics/Cargo.toml b/misc/metrics/Cargo.toml
index 643d96e6..1e963556 100644
--- a/misc/metrics/Cargo.toml
+++ b/misc/metrics/Cargo.toml
@@ -21,7 +21,7 @@ dcutr = ["libp2p-dcutr"]
 [dependencies]
 libp2p-core = { version = "0.37.0", path = "../../core" }
 libp2p-dcutr =  { version = "0.7.0", path = "../../protocols/dcutr", optional = true }
-libp2p-identify = { version = "0.40.1", path = "../../protocols/identify", optional = true }
+libp2p-identify = { version = "0.40.0", path = "../../protocols/identify", optional = true }
 libp2p-kad = { version = "0.41.0", path = "../../protocols/kad", optional = true }
 libp2p-ping = { version = "0.40.0", path = "../../protocols/ping", optional = true }
 libp2p-relay =  { version = "0.13.0", path = "../../protocols/relay", optional = true }
diff --git a/protocols/identify/Cargo.toml b/protocols/identify/Cargo.toml
index c06ce699..c24c2e8a 100644
--- a/protocols/identify/Cargo.toml
+++ b/protocols/identify/Cargo.toml
@@ -3,7 +3,7 @@ name = "libp2p-identify"
 edition = "2021"
 rust-version = "1.56.1"
 description = "Nodes identifcation protocol for libp2p"
-version = "0.40.1"
+version = "0.40.0"
 authors = ["Parity Technologies <admin@parity.io>"]
 license = "MIT"
 repository = "https://github.com/libp2p/rust-libp2p"